Chip stocks experienced a collective downturn, with NVIDIA (NVDA.US) falling more than 2.6% at the time of writing. Advanced Micro Devices (AMD.US) dropped over 2%, Micron Technology (MU.US) declined 0.24%, Oracle (ORCL.US) slid more than 5%, and Broadcom (AVGO.US) dipped over 3.9%.
The decline follows reports that Oracle faced a significant setback in its ambitious AI infrastructure expansion plan, as its largest data center partner, Blue Owl Capital, withdrew support for a $10 billion data center project. However, Oracle later clarified that negotiations for the project remain on track, with overall progress meeting expectations.
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